Immutep Stock Price Increased Over 20% Pre-Market: Why It Happened

By Amit Chowdhry ● April 8, 2021
  • The stock price of Immutep Limited (NASDAQ: IMMP) increased by over 20% pre-market. This is why it happened.

UPDATE: Investors also appear to be responding to a press release from the company published today. The press release reveals that Immutep achieved fast track designation from the FDA for EFTI, a soluble LAG-3 protein.

The stock price of Immutep Limited (NASDAQ: IMMP) – a biotechnology company developing novel immunotherapy treatments for cancer, infectious disease and autoimmune disease – increased by over 20% pre-market. Investors appear to be responding to news from the company yesterday.

Yesterday, the company announced the grant of patent number EP3317301 titled “Combination therapies comprising antibody molecules to LAG-3” by the European Patent Office.
The claims of EP3317301 are directed to embodiments of LAG525, a humanized form of Immutep’s IMP701 antibody – which is out-licensed to Novartis AG. 

And the claims of the patent are directed to compositions comprising LAG525 and spartalizumab, an anti-PD-1 antibody molecule, and related methods of use of the combination in the treatment of cancer.

The patent is co-owned by Novartis AG and Immutep S.A.S. and will expire on July 28, 2036.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.